Standpoint Research Starts Bed Bath & Beyond (BBBY) at Buy
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Price: $4.35 --0%
Rating Summary:
4 Buy, 17 Hold, 14 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
Rating Summary:
4 Buy, 17 Hold, 14 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
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Standpoint Research initiates coverage on Bed Bath & Beyond (NASDAQ: BBBY) with a Buy. PT $70.00.
Analyst Ronnie Moas comments, "For whoever is looking to play the rebound in housing but is not willing to chase XHB, AMZN, WMT, TGT, LOW, ETH and/or HD, we have identified a name with a favorable risk reward looking out to 2013-2014 and that is Bed, Bath & Beyond BBBY. All of the names mentioned above are up by 20%-50% year-to-date while BBBY is unchanged … down 25% since June 19 including the 20% decline since September 14.
We have been working on this name during the last week after seeing the stock rank # 8 out of 800 names in our November 30 Russell-1000 report according to our 155-variable computer model. The stock scores very high there and passes fundamental and subjective overlays.
For value investors as we are, the stock remains just a bit expensive at 13X trailing twelve months earnings and 11X estimates for next year, but this is a high quality name deserving of a higher multiple. We expect BBBY to re-test the September 2012 high of $71.60 within 12-24 months."
For an analyst ratings summary and ratings history on Bed Bath & Beyond click here. For more ratings news on Bed Bath & Beyond click here.
Shares of Bed Bath & Beyond closed at $57.87 yesterday.
Analyst Ronnie Moas comments, "For whoever is looking to play the rebound in housing but is not willing to chase XHB, AMZN, WMT, TGT, LOW, ETH and/or HD, we have identified a name with a favorable risk reward looking out to 2013-2014 and that is Bed, Bath & Beyond BBBY. All of the names mentioned above are up by 20%-50% year-to-date while BBBY is unchanged … down 25% since June 19 including the 20% decline since September 14.
We have been working on this name during the last week after seeing the stock rank # 8 out of 800 names in our November 30 Russell-1000 report according to our 155-variable computer model. The stock scores very high there and passes fundamental and subjective overlays.
For value investors as we are, the stock remains just a bit expensive at 13X trailing twelve months earnings and 11X estimates for next year, but this is a high quality name deserving of a higher multiple. We expect BBBY to re-test the September 2012 high of $71.60 within 12-24 months."
For an analyst ratings summary and ratings history on Bed Bath & Beyond click here. For more ratings news on Bed Bath & Beyond click here.
Shares of Bed Bath & Beyond closed at $57.87 yesterday.
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